Tuesday 6th August, 2019: The Investment Promotion Office [SOMINVEST]

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At the Ministry of Planning, Investment and Economic Development conducted a National Investment Promotion Strategy [NIPS] consultative meeting with representatives from all Federal Member States and Benadir Regional Administration. Attendants included Minister of Planning, Investment and Economic Development of South West H.E Ahmed Madoobe Nunow, Hirshabeelle Deputy Minister of Planning H. E Abdihamid Mohamed Ali, Directors Generals and technical teams from Puntland, Galmudug, Jubbaland, and Benadir Regional Administration.
The objectives of the meeting were to; document federal member states investment priorities and measures to improve foreign investor confidence and protection.
After successful deliberations, participants were able to comprehensively list their respective states’ sectoral investment priorities, enhancing investment portfolios and close collaborations on the investment promotions.
SOMINVEST conducted consultations with Federal Institutions on the 24th of July, 2019 on the National Investment Promotion Strategy and will conduct a Private Sector meeting in collaboration with the Somali Chamber of Commerce and Industry [SCCS], which brings together private sector players.
At the end of consultations, the National Investment Promotion Strategy will be subjected to the necessary validation process before tabling to the cabinet for deliberations and adoption.
SOMINVEST is mandated to promote Foreign Direct Investment, promote Somalia’s positive image abroad and advocate for an improved investment ecosystem.

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